Achieving Balance between Private and Public Interests in Arbitration Disputes

The article is devoted to the issue of achieving balance between private and public interests in arbitration disputes. The author notes that arbitration proceedings as one of the alternative forms of civil rights protection, guarantee the realization by the parties of the right to freedom of contracts and the right to judicial protection in a voluntarily elected procedural form. The author draws attention to the fact that a legislator can impose certain restrictions, based on the need to ensure balance between private and public interests depending on the object of the dispute, its social importance, conditions of civil circulation, legal culture and development of the national social and economic system. The article contains proposals for amendments and additions to the new Federal Law “On Arbitration (Arbitration Proceedings) in the Russian Federation”. The author concludes that the new task of legal regulation is the creation of favorable legal environment for the functioning of arbitration courts which being an institute of civil society, will contribute to more effective functioning of national economy under the conditions of a civilized market, implementation of stability in economy management and attractiveness of the jurisdiction of the Russian Federation as a venue to conduct arbitration with participation of foreign countries.